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over the "fiscal cliff"? the president cuts his christmas vacation short to get back to business. >> what a difference a letter makes. how this woman's skipped syllable cost her thousands. >> we want to know what did you get for the holidays that you wish you hadn't? comment on facebook or twitter, or email us at mornings@cbs5.com business in china. ,,,,,,,,,,,,,,,,,,,, the first trip was this mor, as passengers bo >>> the world's longest high- speed rail line is open for business in china. the first trip was this morning as passengers boarded a train in beijing. the line 1400 miles long. the trip takes 8 hours compared with more than 20 hours previously. >>> recent college graduates are struggling to get jobs in their feels of interest. according to the latest u.s. census figures, about 260,000 young adults with college degrees in california are working in the row tail and food service industries. >> couldn't get a job in the field that i wanted to so i figure i have to start here to get where i want to be. >> without higher paying jobs it's that much harder for college graduate
. >>> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. the deadline is only six days away. the president plans to leave hawaii today and head back to washington to meet with lawmakers. where heed he and his wife, michelle, spent christmas visiting u.s. troops and their families in hawaii. to beat the january 1st deadline senate majority leader harry reid is said to be crafting his own fiscal package. it would extend the bush era tax cuts for households making less than $250,000, extend long-term unemployment, short-term spending cuts, and make a scheduled drop in medicare reimbursement to doctors. house speaker john boehner said they've had no communication with senator reid. >>> the exconwho ambushed and killed two volunteer firefighters in upstate new york may have murdered his sister. her body was found yesterday, and police say william spamglor had the same kind of military rifle used in the connecticut school massacre. he left behind a chilling note. >> reporter: the christmas eve fire in western new york burned seven homes to the ground, but police say
in and the pentagon will be forced to cut $9 million in spending. >> if lawmakers can't avoid the fiscal cliff, they may be able to avoid a different cliff, the dairy cliff. house and senate members appear likely to extend farm legislation for a year, a deal that would keep milk prices skyrocketing in january. we were worried about $6 gallon of milk. it could keep a decades old subsidy from coming back to life. the usda would be forced to buy milk at prices well above what farmers were getting now if the subsidy was revived. it could double the price of moib to $6.12 a gallon. >> markets have been reacting to each move on capitol hill, but obviously, things at this point are looking like the dow would open down by about 7.5 points. the dow is off 67 points and the nasdaq is down 14.75 points. all the surprised given the late hour that -- >> even if something doesn't happen today, it happens in two or three days. >> right. so if you were looking for a market reaction because a lot of the market iraqis we've heard has said, if highways the case, near not getting it base odd what they're going to
. >>> aloha means good-bye. president obama cuts his hawaiian vacation short to deal with the fiscal cliff. it is already too late? good morning, 7:00 in the east. i'm alina cho. >> and i'm drew griffin. soledad o'brien is off today. "starting point" begins right now. >>> our starting point, a cruel one. a one-two christmas punch from mother nature. tornadoes and blizzards tearing through the south and midwest. >> oh, my god. we need to go. it's right there. >> mobile, alabama, took a real beating. a twister blowing up transformers, leaving more than 25,000 customers without power. reports to damage to homes, a high school, and church. >> it came in behind the church right there, and then all green fluorescent lighting and popping transformers left and right. and we heard the crashing and everything and the power went out. >> i prayed to god as loud as i could, and i was just praying for my safety, and i knew the church was shaking. i just prayed that the church stayed put. >> here is the other half of this story, blizzard conditions blanketing much of the midwest and the northeast will ge
obama's cutting his hawaii vacation short, it turns out, to take on the fiscal cliff and crisis in washington. >>> also we're keeping an eye on new violence in syria. one of the regime's highest-ranking generals has actually switched sides. >>> plus, a newspaper actually lists the names and addresses of folks who hold gun permits. is that right or wrong? it's all "happening now." kelly: welcome, everyone. first, tracking a powerful winter storm moving across the one right now -- country right now, this hour, threatening travel plans for thousands of americans just trying to get home after the holidays. i'm kelly wright in for jon scott. jamie: i'm jamie colby, and patience is definitely going to pay this holiday day. the massive storm already blamed for at least three deaths down south, and it spawned more than 30 tornadoes, very unusual for this time of year, across four gulf states. take a look at. >> oh, my
to deal with the long-term fiscal health of the country which is what the fiscal cliff was supposed to be an incentive to do, we're expecting now that this is just some measure to avert the fiscal cliff which is the tax hikes, the spending cuts, each if they deal with the spending cuts and we're waiting to see what the measure will look like. i know what a hard-hitting white house reporter you are. i want to know whether it's apple kay, pumpkin pie or peekan pie for the president and first family on christmas day. any news on the menu? >> reporter: no, i am still waiting to find out. maybe we'll find out a little later today. you don't frequently find out until they have just released it, until the white house releases the information so we'll be standing by to let you know how the president spends his holiday. nothing on his public schedule, but, you know, he normally visits with troops so we're expecting he might do that today here in hawaii. >> that would be a wonderful way to spend christmas day. brianna keilar live from honolulu, hawaii, thanks. >>> other stories in the news, a
. the president is cutting his vacation short to face the fiscal cliff. is he leaving hawaii for washington tonight. if lawmakers don't come up with a deal before the deadline your tax refund could be delayed by months. we are live in the washington bureau to explain more. >> reporter: brian the irs said without a deal as many as 100 million taxpayers may be forced to wait until march to file their tax returns. congress has to vote on the wealth tax and it needs to be adjusted for inflation. both partisay they would agree to it but it's all tied up in the fiscal cliff mess. tax filing season starts next week but the irs would put a hold on that for some. officials would wait for a deal in the new year instead of doing serious reprogramming to their tax system. filing would then be pushed back to march for millions. with refunds coming much later than usual. especially for those who plan on paying off credit card bills that often pile up after the holidays. now all of this could be avoided a deal before the deadline monday night but some long time lawmakers fear it won't happen, more on that
a deal to avoid the massive automatic tax hikes and spending cuts known as the fiscal cliff. >> president obama spent christmas day visiting with troops in hawaii. >> while back in washington uncertainty about the looming fiscal cliff continues. there has been to communication between republicans and democrats about how to avoid going over the cliff. before the christmas break, speaker john boehner was unable to get enough support from respects to pass his plan and help said it was up to the white house and the senate to avert the cliff. so now harry reid is believed to be crafting a plan of his own. it's expected to extend bush-era tax cuts. it would also include short-term spending cuts instead of the massive cuts that would occur if there is no deal. it would also patch up the alternative minimum tax that will hit even more middle class families and schedule a drop off for doctors. >> if republicans do give in and support the deal being put together by harry reid that deal is expected to be far less favorable than the potential deal they had been work
. as fiscal cliff talks drag into the 11th hour with $600 billion in tax hikes and spending cuts due to kick in early next year, lawmakers will get back to the table later this week after house speaker john boehner's plan b failed to get enough republican support for a vote last week. >>> still, the market has been resilient. despite friday's decline, the s&p 500 posted its best week in four. and with just five trading sessions left in 2012, the dow has advanced 8% while the s&p 500 climbed 13. the nasdaq has jumped 16%. >>> reports are due this week on pending home sales. sales of new homes and a look at home prices in the nation's 20 largest cities. >>> are you still not sure what to get for the person who has everything? new retail numbers show footwear was the fifth most popular gift on shoppers' lists on black friday. a year ago, shoes didn't even make it into the top ten gifts for the season. >>> good news for hollywood. attendance by moviegoers is up more than 5.5% so far this year. ticket revenue is projected to jump by 6% by the end of 2012 which would be the industry's biggest year
in hawaii and, yes, christmas brings us one day closer to possibly the fiscal cliff, the huge tax increases, spending cuts that could take effect in one week or so. brianna keeler is watching there in hawaii, joining us with the update. first of all, how is the president, how is the first family spending the holiday? >> presumably right now they are sleeping in, suzanne, because it is still very early here as you know. >> what time is it? >> we are expecting of course they'll have a christmas. let's see. 6:00 in the morning bright and early. we've been at it for a few hours. we expect them to have a nice christmas meal at the house they're renting. the white house chef is here. maybe we'll get details on what they are going to eat. there is nothing on the president's public schedule. he is frequently gone and visiting with troops in the past so we wouldn't be surprised if he did that again today. i will tell you that bo the dog is actually along for the ride here in hawaii and the white house released a video where bo just really kind of steals the show. let's look at a little of that. this
the fiscal cliff was coming. 12 years' notice we had these bush tax cuts were going to expire. these kind of discussions require air they require time they require debate and we are now having them. when john thune says he hopes that senator reid brings a bill to the floor and it is open to discussion and amendment, not today. not today. it's too late for that. make a deal and stop markets from going over the edge, stop this economy from going over the edge. they will ruin a good economy, martin this is ridiculous, irresponsible, disgusting behavior. >> you don't want to hear this kind of detailed conversation going on now? >> no. no. >> you want to get a deal done? >> forget t no more details. no more details. you had 550 dies come one details. today is not the day. today's only job is to come up with a deal that ainvestigators going over the fiscal cliff and anything other than that is absolute irresponsibility you congressional malpractice. >> any deal? in other words, say some sort of temporary fix or have to be that long-term overhaul? >> i don't think -- at this point, beggers can't
. a traditionally quiet week could become hellish for traders. as fiscal cliff talks drag into the 11th hour with $600 billion in tax hikes and spending cuts due to kick in early next year, lawmakers will get back to the table later this week after house speaker john boehner's plan b failed to get enough republican support for a vote last week. >>> still, the market has been resilient. despite friday's decline, the s&p 500 posted its best week in four. and with just five trading sessions left in 2012, the dow has advanced 8% while the s&p 500 climbed 13. the nasdaq has jumped 16%. >>> reports are due this week on pending home sales. sales of new homes and a look at home prices in the nation's 20 largest cities. >>> are you still not sure what to get for the person who has everything? new retail numbers show footwear was the fifth most popular gift on shoppers' lists on black friday. a year ago, shoes didn't even make it into the top ten gifts for the season. >>> good news for hollywood. attendance by moviegoers is up more than 5.5% so far this year. ticket revenue is projected to jump by 6%
congress reaches, it will be a big tax cut. but the other thing about the fiscal cliff is you don't want to be blamed for going over it. it is going to be bad for the economy. it's bad for the country. what speaker boehner's done is create a situation in which we're going to go over the fiscal cliff. but the people who want higher taxes, the democrats, they're not going to be blamed for it. after all, it was john boehner who walked away from negotiations to try plan "b" last week. then it was john boehner who planned to pass plan "b" that very same week. then it was mr. boehner who said it was up to the senate, someone else's problem. just from a pr perspective, what john boehner has done here is a debacle for the republicans. and the white house, they've just been sitting back the last week or so and letting it happen. but today, they gave us their plan going forward. you could call it deal and jam. >> i'm optimistic we may still be able to reach an agreement that could pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but if an agreemen
:15 the fiscal cliff negotiations and the effort to prevent one of the largest tax increases and budget cuts in united states history. >> we are still watching the accident in napa. >> we have a lot of traffic around fifth street near downtown. the westbound lane blocked due to a two car crash. a woman was trapped inside of her car. we will take a look at the bay bridge. you can see traffic flowing nicely. 880 near the oakland coliseum we have traffic gluing well in both directions. no delays to report. in the south bay 280 at 880 split those headlines northbound traffic toward santa claire a. >> hi. we are -- taking a live look outside. showing you cloud coast mostly cloudy skies over most of the area. key headline, it's dry, we have a break in the rain for today. its been an active weather pattern over the past one to two weeks. we will look at where we stand with rain, since july 1st when the rainfall calendar starts. santa rosa over 22-inches, san jose at 7 inches, look at santa rosa. 174% of average and by tomorrow we could be tracking just a few more rain shower, nothing major but s
the fiscal cliff as a group of democrats push for the extension of most of the bush-era tax cuts, cuts they say staunchly -- they opposed years ago. joining us now to talk about it, tony -- [inaudible] a republican political analyst and consultant and a national political correspondent for talk radio news service. michael is a democratic strategist, and he joins us as well. good to see you both. tony, look, the word we're getting is that harry reid is going to pass an extension of the bush tax cuts for anybody under 250,000, extend unemployment benefits for two million folks. um, now, if that happens, it goes to the house, and the house will probably have to put it up. aren't republicans, your party, going to wish that they had passed plan b? >> absolutely, gregg. look, plan b really should have been our plan a, number one. number two, plan b was really the idea of chuck schumer and nancy pelosi as recently as in this summer. to set the threshold on incomes to a million dollars versus 250,000, allow those tax rates for a million and above go up, the president talked about taxing millio
of the president. fox news confirming he will be cutting his vacation short to get back to work on the fiscal cliff. peter doocy has more. >> president obama will departed hawaii for washington, d.c. late tonight leaving his wife michelle and daughters sasha and malia behind. the latest guidance we have from white house is that the president will be back here in the nation's capital where it is presently 36 degrees sometime tomorrow morning. united states government is set to go off the fiscal cliff on new year's day. at this point we don't know if the president plans to return at the to hawaii if the tax hikes are avoided well in advance of the of the new year. he's there to talk to himself. john boehner will come back at any time. his office told us it would be sometime after christmas. so he could be back as soon as today. the upper chamber in commerce is coming back tomorrow to pick up where they left off on the important domestic surveillance bisa. they will meet for a vote on the $50.6 billion bill for hurricane sandy relief. they will be back in the same zip code as far as we know there are
this fiscal cliff is really all about. we're talking about automatic tax cuts that will go into place as well as drastic, draconian cuts in entitlement programs, medicare, and even the military. the military can suffer very greatly if this goes through the sequestration. if you look at all this, you realize something has got to be done, because $2,000 per average taxpayer will be added to them over the course of this year if they fail to do something, what is going to happen? what is your prediction, brad? >> well, my prediction is, that we're likely to go over the cliff because the president also knows, kelly, in 2013 any deal made then can be retroactive to january 1st. so the draconian cuts we're talking about can be wiped away with the stroke of a pen should a deal be made. i believe the president believes he is in stronger position if he deal doesn't go through now because he believes he will have better leverage in january. kelly: sear lena? >> he has better leverage i agree with brad about that. he can come to congress after january 1 and pass tax cuts only for those making under $250,
he will make a full recovery. >>> they are trying to reach a last minute deal to avoid the fiscal cliff. they rejected house speaker john boehner's plan "b" and they say it will not be reached until they match spending cuts. they will raise taxes on the wealthiest americans. >> we will go over the cliff because it is what the president wants. >> we will present a tax hike on middle-class americans... >> without a deal spending cuts will take affect in the new year and economists warn it could lead to a recession and big jump in unemployment. >>> and before the end of the year, right now homeowners do not have to pay tax on a portion of the mortgage short sale or principal reduction, in authority sale, they could soon own income tax on part of what they had to pay. >>> officers are looking for and they say he killed his brother-in-law. he left in an orange truck and he is considered to be armed and dangerous. >>> they are banning together to find an answer to problems putting escalators out of service. there are many things that can put escalators out of service, dropped keys and c
for the wealthiest americans are protected. >> fiscal cliff negotiations are now down to the wire with a midnight deadline just hours away. that's tonight, new year's eve. at stake, the prospect of sweeping tax hikes and across-the-board spending cuts if a deal is not reached. and all indications are it's not looking good. here's the latest. the senate is scheduled to reconvene at 11:00 this morning. any deal today would have to be rushed through both chambers of congress before midnight. as talks in the senate stalled yesterday, minority leader mitch mcconnell reached out to someone he believed could help jump-start the negotiations and perhaps deliver an 11th-hour compromise. that's vice president joe biden. mcconnell and biden reportedly spoke several times by phone throughout the night after talks with harry reid came to a halt. welcome back, everyone, to "morning joe." that's the latest. ed rendell and jeffrey sachs all with us along with sam stein and michael steele in washington. joining us also in washington, senior national correspondent for "bloomberg businessweek," joshua green. and jo
until we hit the fiscal cliff. the president is cutting short his hawaiian vacation to go back to work. we'll look at whether a deal is likely to get done. >>> and not what people in alabama wanted for christmas. tornadoes ripped through the south. >> i prayed to god as loud as i could and i was just praying for my safety. and i knew that -- i prayed that the church stayed put. rsal] ♪ everybody well don't you know it's me now? ♪ ♪ yeah who's it, who's it huh? ♪ ♪ willy's back with a brand new beat now, ♪ ♪ yeah doin' it doin' it up! ♪ heyyy yeah, tryin' to bite my style! ♪ ♪ heyyy yeah, how you like me now? ♪ ♪ na na na na na na na na ♪ and everybody go uh! >>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior congressional correspondent. we spoke last hour. you told us that hour
vacation short and heading back to washington before we fall off of the fiscal cliff . can a deal be reached. >> a deadly winter storm unleashing snow and tornados . now thousands ever cleaning up and holiday travelers are stuck. i am tracking where the storm ised hading next. >> thank you, rick. take the gift card and hit the stores this morning. wait until "fox and friends" is over and then leave. "fox and friends" begins right now. "fox and friends". >> gretchen: good morning, i am gretchen carlson we are joined by clayton morris . rick as well . these are great guys, but clayton, because he is a tech guru of folks news and here to help all of us today. >> tech support this morning f. you have tech-related questions. send them and i will attempt to answer them all. i answered all of them. my wife said what are you doing on twitter? i said i am helping me. >> gretchen: we have big storms brewing and rick, you are aptly sitting to the right of me and you will help people get out of town. >> 30 tornados and a big one in mobile, alabama and more tornados and a blizzard. i will try
cuts will automatically go into effect. if we do go over the fiscal cliff, how will it affect you from your paycheck to your retirement accounts? we're going to give you all the tips you need to protect yourself. here to do that this morning is ry ryan mac, president of opt middle school management. >> kudos for being able to pronounce that honolulu merry christmas saying. >> i don't think i can do it again. ahah! let's start with your paycheck as it applies to the fiscal cliff. if we go off the fiscal live how will mooirn and everybody's paycheck be affected? the majority of the paycheck won't be afeektded until 2014 when people file for 2013 stackses. there are certain things that are impacted right away like the payroll tax cut. for individuals earning about $50,000 a year, they'll be having to pay about $85 less because of the payroll tax cut will be expiring so that will be, again, almost $90 a month that will mere live come into play but the majority of the individuals when 2014, when they file their taxes they might be in for a surprise if we don't get to a deal quickly. >> what
outside of the capitol about the fiscal cliff. he called it a battle for the middle class. we will also hear from congressman chris van hollen and members of advocacy groups. >> are we ready? okay. good morning. all right. good morning. welcome to this cold morning press conference here outside of the senate office building. i am the executive director of network and i am one of them on the bus. we're here to continue the message, grizzlies to find a solution to the economic situation that we are facing. we gather today as a broad coalition through all sorts of members of the washington advocacy community and folks from all around the country to stand here together to say we need a congress that governs. we need a congress that solves our problems. and we are especially concerned today about lifting up middle class families that are so apprehensive about the future and the working poor in the nation that kept getting pushed further and further to the margins. it's time that our congress acts and it is my great honor to introduce one of the members of the senate that is pushing for a rea
to reach a fiscal cliff deal. the senate and house are expected to reconvene tomorrow. we're six days away from possible across the board tax increases and spending cuts. >>> former president george h.w. bush is still in a houston hospital. his wife, barbara, and other relatives at his side. the 88-year-old has been in the hospital for more than a month with a lingering cough and recently had a low grade fever. doctors remain cautiously optimistic about a full recovery. >>> a claim of facebook privacy breach within the zuckerberg family. his sister says a family photo was reposted by another person on twitter. randy zuckerberg called the woman out. the woman apologized said it was public because it was in her facebook newsfeed. >>> in china the longest high speed railway opens, connects beijing with guangzhou, 1,500 in eight hours, but tickets start at $138, and they're a little pricey for some people and many travelers say it's cheaper and faster to fly. >>> a report just out this morning shows home prices up in october, the biggest annual gain in more than two years. alison kosik joins u
about running off the fiscal cliff. the deadline for preventing tax hikes and government spending cuts is just one week from today. the president and congress return to washington later this week. it's likely they'll work right to new year's eve. one possibility is striking a deal on taxes but leaving the spending for later. >>> overseas now, where an american has been killed by an afghan policewoman. the attack took place at police head quarters in kabul. where there have been similar insider attacks, this is the first time a female security officer has been involved. >>> the nra is not backing away from its call for armed officers in our nation's schools. and the group vows to fight any effort by congress to strengthen gun control laws. now congressman chris murphy, whose district includes newtown, calls the stance "tone deaf and revolting." >>> a real christmas gift, it would be getting to where you're going on time today. storms are causing major travel trouble throughout the nation. it's not only trying to get through snow-covered roads. rain and wind are grounding flights in the
to washington d.c. on thursday. the president is returning to the white house to work on its fiscal cliff deal before the year inns. without an agreement, automatic tax increase is for everyone and deep spending cuts will be triggered in the new year. the >> the death toll has risen to six from winter storms in the nation's midsection. if this is video automobile, alabama. an enormous storm system that brought snow and sleet to the nation's midsection and tournedos to the deep south is now moving its way toward the northeast. >> we are still tracking pretty good storm sales as you can see here is a live look as storm tracker 4. san for cisco is starting to dry out. we are still seeing pretty good rain coming out towards ever bring and 101. \ evergreen and 101. hayward and union city are also looking at moderate rain showers that are coming through. richmond and certain parts oakland are also looking at light rain. all the rain will stick a round and we will have scattered showers for the rest of the day. showers will decrease by the afternoon and you should grab your unreligious in case you ar
to avoid the fiscal cliff by the end of the year. just about every american family will see their taxes increase on january 1 unless a deal is reached. but lawmakers are expressing very little optimism so far. meantime, the president spent christmas in hawaii, visiting a local marine base, thanking more than 100 troops and their families for their service. >>> and this morning, the taliban is claiming responsibility for a suicide bombing at a major u.s. base in eastern afghanistan. three afghans, including a guard at camp chatman were killed in today's explosion. >>> and back here at home, former major league baseball player andruw jones is free on bond this morning. he was arrested near atlanta early christmas morning on a battery charge, after police responded to a call about a domestic dispute with his wife. >>> and netflix, they are apologizing for a christmas outage in its video streaming service. yes, it happened on christmas, a little untimely. it took ten hours to resolve the problem, which affected subscribers across the country. the company says it stemmed from a failure at am
the economy from going over the so-called fiscal cliff. they have less than a week to come up with a solution or everybody's taxes are going up. >>> you need to get ready for some round-the-clock gaming action at maryland live casino. beginning tomorrow customers will be able to enjoy nonstop action 24/7, 365. casino doors will swing open and remain open beginning at 8:00 a.m. tomorrow. >>> you want to see the raven's wildcard playoff game? tickets are available, but there are not a lot of them. a few thousand tickets will be available for public sale beginning this friday at 10:00 a.m. the ravens will play january 5th or 6th. you can get tickets through ticket master. >>> today is the first day of quawns a. it's a celebration of community, family and culture. the weeklong festivities end with a feast and exchange of gifts. unity, self-determination, collective work and responsibility, economics, creativity and earth. >>> well, from christmas sales to christmas music 24/7, it is easy to forget that a lot of people don't celebrate the holiday. jewish volunteers in park heights may not observ
, to return to washington. hoping to strike a last-minute deal to avoid the fiscal cliff. >>> plus, deep discounts. if you're not sick of the mall just yet, you're going to find some great sales today. why a loss for retailers could be your gain. >>> and the holiday homecoming. one family never imagined was possible. how a chance encounter by a caring stranger put a dog-napped
over the fiscal cliff must start in the senate. >> gretchen: a lot of people were upset because members of congress just can't seem to get their act together or the president, depending on which side of the fence that you're on of the they were upset that they went on christmas vacations. the president went to hawaii and members of congress went home. both sides said we're going to come back to washington because we've got to solve the situation. i think what so many people are frustrated about is this is an ongoing situation. it's like every year we come to this point where we're talk being this cliff and this is what i think has angered so many voters and why congress has such a low approval rating. >> rick: they also got to this point because of their last time they did this. it was the last debt creating fight that deleted this thing. now they gave themselves an amount of time to work on it you and thought maybe last week there was a little progress being made. turns out there is not. we're back to exactly where we started at and we're eight days out now. >> clayton: you're right ab
spending, what do you do? >> set the fiscal cliff aside for one moment. you've done extensive research on recovery from recessions. where are we in the current recovery? what in your estimation does 2013 look like from an economic standpoint. >> fairly normal from world war ii financial crisis, housing recovers on cue five or six years later. the good news is that there's stable underlying growth. the bad news is you don't get the zoom you got out of it during the depression. >> we're in year five of a seven year process. >> more than seven years. >> last time you were here you said we were half way through regardless of who wins in 2012. the next four years would not look much better than the past four years. >> we're going to have, i don't know if not very much better than the past four but we're not going to have fantastic growth. unemployment will take many more years to feel normal, so we have many years left in the recovery but hopefully in two or three years we feel like we're moving there and not at the starting point. >> let's talk about the global picture here. you have slow
take a stand on the looming fiscal cliff. c-e-o howard schultz is asking workers at its 120 d-c-area stores to write "come together" on the coffee cups they serve on thursday and friday. he says it's a way to quote: "send our elected officials a respectful but potent message, urging them to come together to find common ground." both sides are due back by thursday and have vowed to make a final attempt. starbucks notes workers are not required to write the message on cups. >> 49ers sunday at candlestick with a chance to clinch the division title kron four's jason appelbaum joins me now with more. .jason the team's a little banged up right? >> manning's am >> vernon davis, manning >> . >> and justin smith at this kind of the big one, butthe injuries shouldn't be a problem sunday with an arizona team in town that has lost 9 of it's last 10 games coach jim harbaugh's team a two-touchdown favorite to beat the cardinals.which as vicki mentioned would lock up the nfc west title - and assure the niners of a home game in the first round of the playoffs.of course a win coupled with a p
, the fiscal cliff is one day closering and much of the talk in congress focused who's to blame for a lack of a deal. there are nine days off to head off mandatory tax cuts and tax hikes. nancy cordes is in honolulu where the president is having his christmas vacation. and nancy, good morning. >> reporter: good morning to you, rebecca. it's almost as if the president and congressional leaders have called a sort of time-out when it comes to the fiscal cliff. there are no major discussions going on right now about what to do now that talks between the president and the speaker have appeared to have stalled. they were both here yesterday for the funeral of daniel inu way and & we're told they didn't know what to do next. the president urged leaders to craft a sort of scaled down plan that simply extends the bush tax rates for the middle class and extends long-term unemployment benefits for another year. but jeff and rebecca, it's really unclear whether even a package like that could pass both houses of congress, and so the president is going to be cutting his vacation here short. he's heading
. >> the true heroes:. >>> well on this christmas eve, the fiscal cliff is one day closer. much of the talk in congress on sunday focused on who's to blame for the lack of a deal. there are eight days left for lawmakers to head off mandatory budget cuts and tax hikes, and nancy cordes is in honolulu where president obama is having his christmas vacation. nancy, good morning. >> reporter: good morning to you, rebecca. it's almost as if the president and congressional leaders have called a sort of time-out when it comes to the fiscal cliff. there are no major discussions going on right now about what to do now that talks between the president and the speaker appear to have stalled. in fact, the president and senate majority leader harry reid were both here in honolulu yesterday for the funeral of hawaii senator daniel inouye. we're told they didn't really discuss what to do next. before he left washington the president urged leaders to craft a sort of scaled down plan that simply extends the bush tax rates for the middle class and extends long-term unemployment benefits
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